Market Size of Southeast Asia Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Oil & Gas Market Analysis
The Southeast Asia Oil and Gas Market is expected to register a CAGR of over 4% during the forecast period.
In 2020, COVID-19 negatively impacted the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, the country's energy transition from coal to natural gas is expected to drive the market during the forecast period.
- On the other hand, declining crude oil reserves along with a lack of investments in the upstream sector are expected to restrain market growth.
- Nevertheless, countries such as Brunei, Vietnam, and Burma have enormous potential for the oil and gas industry across all three sectors: upstream, midstream, and downstream. This will likely act as an opportunity for the Southeast Asian oil and gas market.
- Indonesia is expected to dominate the Southeast Asian oil and gas market, owing to the large number of new refineries being constructed.
